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Banks Face Brexit Bill of $66,000 Per U.K. Employee Moved Abroad

  • Synechron analysis includes relocation, rent, redundancy costs
  • Banks have threatened to move thousands abroad after U.K. vote
Pedestrians look at the view of the Canary Wharf financial, shopping and business district, from Greenwich Park in London.

Pedestrians look at the view of the Canary Wharf financial, shopping and business district, from Greenwich Park in London.

Photographer: Simon Dawson/Bloomberg

The cost for banks wanting to move their U.K. staff abroad after Britain decided to leave the European Union is 50,000 pounds ($65,660) per employee, according to consulting firm Synechron Inc.

Synechron’s analysis, which was published Monday, included the cost of relocating staff, hiring and firing other employees and setting up new offices in cities that could include Amsterdam, Dublin, Paris or Frankfurt.